I ticked "no limit" to what people can earn - but that isn't necessarily strictly the truth.
I don't think there should be a statutory limit, but I do feel there should be a moral limit, based on the lowest paid person in an organisation. Maybe 10 or 20x.
I also think that shareholders should have more balls and determine pay.
Do you have a pension scheme? Have you written to the people who run it, expressing that they should be a more active shareholder in the field of limiting pay?
Shareholders can't usually 'have more balls' because they mostly come in the following flavours:
1) large institutional shareholders who represent a very wide range of opinions including quite a lot of 'they deserve it' and a majority of 'we don't care' - pension schemes etc
2) daytrader / hedge fund activity who have no connection with the individual company at all and hold shares briefly in a massive number of companies, which they don't have the time or interest to actually interact with in any way...
I actually hold some shares directly, and as a matter of course I vote against appointment of the auditors just to flax a bit of muscle. I sometimes vote against reappointment of directors too.
For most collective investments, I doubt that existing a view would be effective: I use ETFs, and this have no relationship with the managers at all.
Though of course this could just be put down as defeatist!
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andrewducker) wrote2012-02-09 01:22 pm
no subject
I don't think there should be a statutory limit, but I do feel there should be a moral limit, based on the lowest paid person in an organisation. Maybe 10 or 20x.
I also think that shareholders should have more balls and determine pay.
no subject
Shareholders can't usually 'have more balls' because they mostly come in the following flavours:
1) large institutional shareholders who represent a very wide range of opinions including quite a lot of 'they deserve it' and a majority of 'we don't care' - pension schemes etc
2) daytrader / hedge fund activity who have no connection with the individual company at all and hold shares briefly in a massive number of companies, which they don't have the time or interest to actually interact with in any way...
no subject
For most collective investments, I doubt that existing a view would be effective: I use ETFs, and this have no relationship with the managers at all.
Though of course this could just be put down as defeatist!